Young Company Provided Services to a Customer for $6,500 Cash

Multiple Choice

Young Company provided services to a customer for $6,500 cash. As a result of this event,

A) total assets decreased.
B) total liabilities increased.
C) net income increased.
D) cash flow from financing activities increaseD.Providing services to a customer for cash increases assets and equity on the balance sheet. It also increases revenue, and therefore, net income on the income statement, and increases cash from operating activities on the statement of cash flows.